- Who is affected
- Directors and management of SGX-listed issuers, and their sponsors and advisers.
Summary
Sustainability Reporting Review On 4 December 2019, the Centre for Governance, Institutions and Organisations (CGIO) at NUS Business School performed a review and assessment of the sustainability reports issued as of 31 December 2018 and the results were presented during a sustainability forum, which we have summarised in the tables below. SGX will take into consideration the results of the review and look at improving on the sustainability reporting requirements, in particular, closing the gap between mandatory and voluntary disclosure requirements under the various sustainability reporting frameworks. Just to recap – In 2016, SGX issued its inaugural rules and guidelines for sustainability reporting, requiring SGX-listed issuers to produce a sustainability report for any financial year ending on or after 31 December 2017. In the report, it must describe the issuer’s sustainability practices with reference to the following primary components using a ‘complyor-explain’ approach – (i) Material Environmental, Social and Governance (ESG) factors; (ii) Policies, Practices and Performance; (iii) Targets; (iv) Sustainability Reporting Framework; and (v) Board Statement.
• Few issuers explained the rationale of choosing the relevant framework for their Sustainability Reporting (i.e. how is the framework selected relevant to the issuer and the industry that it operates in). • Most issuers’ sustainability report cover only their principal place of operations and do not cover their global operations.
This update is a summary of publicly available regulatory guidance prepared by SAC Capital Private Limited for general information. It is not legal advice. Issuers should refer to the SGX Listing Rules and consult their sponsor or legal adviser.